Indian authorities have announced the arrest of Aleksej Besciokov, a Lithuanian national and co-founder of Garantex, who is wanted by the US for allegedly laundering billions through the cryptocurrency exchange.
Besciokov was detained in Varkala, a coastal town in Kerala, while on vacation with his family. He faces charges of running an unlicensed money-transmitting business and conspiracy to commit money laundering.
This arrest occurred just days after US and European officials seized Garantex and shut down its online operations as part of a crackdown on the alleged money laundering activities associated with the platform.
According to US authorities, Besciokov was instrumental in the operations of the Moscow-based exchange, which was sanctioned by the US Treasury in 2022 due to its involvement in processing illegal transactions connected to ransomware, drug trafficking, and cybercrime.
Prosecutors argue that the platform enabled financial transactions for Russian criminal groups, including those involved in hacking and extortion campaigns targeting American companies and institutions.
The arrest followed a provisional warrant issued by the Additional Chief Judicial Magistrate of Patiala House Court in New Delhi. The Central Bureau of Investigation (CBI) and Kerala Police worked together on this case in response to an Interpol Red Notice requested by US authorities.
B. Gopakumar, deputy superintendent of police in Varkala, stated:
> “The accused was located based on intelligence from Interpol and international law enforcement bodies. He will be held for two days in Kerala prior to being moved to Delhi for extradition proceedings.”
Besciokov’s detention is part of a larger international effort to combat cryptocurrency-related financial crimes. On March 7, the US Department of Justice revealed an indictment against him and his associate, who remains at large, charging them with money laundering, conspiracy to breach US sanctions, and running an unauthorized financial entity.
Authorities assert that Garantex processed hundreds of millions of dollars in illicit transactions between 2019 and 2025, including ransomware payments linked to groups like Conti, Black Basta, and Play.
The US Treasury’s Office of Foreign Assets Control (OFAC) designated Garantex as a high-risk entity, effectively excluding it from the global financial system. Meanwhile, Besciokov is expected to be extradited to the US following legal procedures in India.